iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) Stock Break Above Fifty Day Moving Average – Here’s What Happened

iShares 5-10 Year Investment Grade Corporate Bond ETF (NASDAQ:IGIB) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $51.06 and traded as high as $51.29. iShares 5-10 Year Investment Grade Corporate Bond ETF shares last traded at $51.24, with a volume of 2,453,574 shares changing hands.

iShares 5-10 Year Investment Grade Corporate Bond ETF Stock Performance

The company’s 50 day simple moving average is $51.06 and its 200 day simple moving average is $52.65.

iShares 5-10 Year Investment Grade Corporate Bond ETF Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, November 5th. Investors of record on Monday, November 2nd will be issued a dividend of $0.2207 per share. The ex-dividend date of this dividend is Monday, November 2nd. This is a positive change from iShares 5-10 Year Investment Grade Corporate Bond ETF’s previous monthly dividend of $0.2206. This represents a $2.65 annualized dividend and a yield of 5.2%.

Institutional Investors Weigh In On iShares 5-10 Year Investment Grade Corporate Bond ETF

A number of institutional investors have recently added to or reduced their stakes in the company. RMG Wealth Management LLC bought a new position in iShares 5-10 Year Investment Grade Corporate Bond ETF during the 1st quarter valued at $57,452,000. Bank of New York Mellon Corp raised its stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 948,447 shares of the company’s stock worth $50,476,000 after buying an additional 46,214 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 63.0% in the 1st quarter. Madison Asset Management LLC now owns 400,916 shares of the company’s stock worth $21,337,000 after buying an additional 154,955 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 28.1% in the third quarter. CoreCap Advisors LLC now owns 234,396 shares of the company’s stock valued at $11,802,000 after buying an additional 51,368 shares during the period. Finally, Mittelman Wealth Management lifted its holdings in shares of iShares 5-10 Year Investment Grade Corporate Bond ETF by 9.0% in the first quarter. Mittelman Wealth Management now owns 213,856 shares of the company’s stock valued at $11,381,000 after buying an additional 17,623 shares during the period. 76.98% of the stock is currently owned by institutional investors and hedge funds.

About iShares 5-10 Year Investment Grade Corporate Bond ETF

The iShares 5-10 Year Investment Grade Corporate Bond ETF (IGIB) is an exchange-traded fund that is based on the ICE BofA US Corporate (5-10 Y) index. The fund tracks a market-value-weighted index of USD-denominated, investment grade corporate debt with maturities between 5-10 years. IGIB was launched on Jan 5, 2007 and is managed by BlackRock.